Chevron Expects Caspian Pipeline to Continue Operating, CEO Says

(Bloomberg) -- Chevron Corp. has received no indications from any government that the Caspian pipeline that connects the giant Tengiz field in Kazakhstan to global markets will be interrupted after Russia invaded Ukraine, Chief Executive Officer Mike Wirth said. 

“It’s an important source of supply, over a million barrels a day into a world which right now really needs that oil supply,” Wirth said on a call with reporters Tuesday. Numerous governments are “looking to keep markets well supplied to try to stabilize prices.”

The pipeline, which crosses part of Russia, is Chevron’s only direct exposure to the conflict. 

“We would expect the pipeline to continue to operate,” Wirth said. 

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